In simple words, airtel money is an account on your mobile phone. You can deposit money (load cash) on to your account and use this balance to pay for various products & services through a simple menu on your phone. Now you can also book your train tickets from your mobile with no need of internet connection.

To check your Airtel Money balance on mobile:

Dial *400# (toll free)

Select option 7 (My account)

Now select 1 (to Check Balance) or 2 (for Mini Statement)

Your Current Airtel Money Account balance will be shown on the Screen.

For Mini Statement Select Statement by SMS to receive the mini statement to your inbox.

If you are a regular internet then this feature is not well suited for you and also there are some transaction charges for other services (Utility bills, IRCTC ticket booking, etc.) ranging from 1-1.5% (Promo Offer: No charges, Free till September 2013)